– Backstop Solutions Group, provider of a leading cloud-based productivity suite for institutional investors, today announced IntellX Transactions, the newest solution built within the IntellX platform. IntellX Transactions augments IntellX Documents to automate portfolio transactions so that allocators can spend their time more productively, on higher-value tasks. With the addition of Transactions, IntellX now has the capability to translate and accurately file transaction information such as capital calls, distribution documents and capital accounts statements.
“The productivity value we’ve achieved through using Backstop IntellX, first Documents and now Transactions, has been immense,” said William Metzler, Investment Analyst at Salient Partners. “The straight-through, automated processing of our due diligence documentation has freed up time for us to contribute at a higher level within the organization.
Backstop is consistently ahead of the curve in their technology offerings. This has always been valuable but is now more so than ever as the traditional work environment looks a bit different. It’s a relief to know that our people can access the information they need to be productive even as they’re remote.”
“If an allocator has 300 funds, and each fund sends three to five documents a month, and each document takes that allocator three minutes to download and file, very quickly this adds up to an allocator spending nearly 1,000 hours a year on manual tasks around collecting, processing and filing information,” said Andy Philips, VP of Data Products, Backstop.
“Operations teams should instead be focusing on more high-value decision making that will further the business. Backstop IntellX, now comprised of both Documents and Transactions, enables this through the use of artificial intelligence to identify, tag and upload files directly into Backstop and process portfolio transactions with little to no human intervention.”
Designed for the needs of institutional investors, including investment consultants and advisors, OCIOs, pensions, institutions, funds of funds, endowments and foundations, IntellX eliminates the time-consuming and error-prone manual steps in processing portfolio data into Backstop, automatically loads balances and cashflows, and enables portfolio analysis. With the added capabilities of IntellX Transactions, operations teams are able to spend more time managing their portfolios, instead of their inboxes.
For more information, visit https://www.backstopsolutions.com/.